Kazakhstan-based mining group Eurasian Natural Resources Corporation Plc. (ENRC) has announced that in the first half of the current year it registered a 60 percent year-on-year decrease in its net profit to $463 billion, while its revenue amounted to $3.24 billion, down 19.1 percent compared to the same period of the previous year.
Accordingly, in the first six months of 2012, ENRC's ferroalloys division had revenues of $1.33 billion, down 19 percent year on year, which represented 40.8 percent of the group's consolidated revenue. Meanwhile, ENRC's iron ore division had revenues of $983 million, down 24.1 percent year on year on year, which represented 30.3 percent of consolidated revenue.
For the given period, ENRC's capital expenditure was $1.04 billion, increasing by 50 percent compared to the same period of 2011. Estimated capital expenditure for 2012 is expected to decrease against previous guidance of $2.7 billion to approximately $2.4 billion.